Know-How Exchange : Advertising/PR

Use your market survey numbers and tell potential advertisers that based on your research, their ad should reach x-number of eyes. (Don't forget online impressions, as well.) Offer introductory rates.

Well this mag may have no track history-- but others do.

What is part of this biz plan to indicate this mag will succeed? Is there a void in the market, what have competitors done well to build the case, what are they doing wrong? What is the experience of the owners that make it viable?

Be lazar sharp in making sure your advertisers will benefit from placing their ads with you. You are just pioneering a territory. So get out and pound the pavement with a very personal consultative sell. Be clear, you are not there to fill ad space. You are there to increase the sales of their advertisers. Your goal is to be the "go to" source for the readers in whatever niche you define. Your advertisers will know that placing an ad in your mag is a good return on their money.

Now go out and sell something.

I have a bit of experience here, having started, and am still running, a quarterly regional sports magazine (calkayakermag.com).

You need to tell a story of your vision to the potential advertisers, focusing of how advertising in your magazine would help them. Include who the readers will be, how you will get the magazines into their hands, etc. Hopefully you have a niche so that you are reaching a target market that advertisers can't reach all that well through other media sources.

You also will likely have to discount or make deals - more up front than later, but it never really goes away. When discounting, I tried to structure it so that I would get long term advertisers - say give 1 free if they place ads in next 4 at regular 4X price. But often I was happy just to get an ad at first.

I also took an added step to make it a bit easier for advertisers in that I would bill for the ad after the magazine is run (many magazines require pre-payment of ads).

Even with all of this, it took a year and a half before I got the magazine where the ad revenue covers all the costs of each issue.

You may want to check out a book called Starting & Running a Successful Newsletter or Magazine by Cheryl Woodard. Good read on some of the background of starting a magazine.

Wow! You got some great advice from Gail, Peter and Carol. Peter has "been there/done that" in the same category, so he's actually lived this issue himself.

I'm usually on the other end, listening to pitches on why I should buy advertising in some particular medium or vehicle. I'm amazed at how all the reps are eager to tell me how great their magazine/newsletter/broadcast station is, and how few of them tell me what's in it for me (or for my clients) to advertise in their venue.

My advice is to really get to know the needs of each potential advertiser BEFORE you approach them, and go to them with a compelling promise to deliver precisely what they need.

If you do this, you'll stand out among all the reps out there -- who have a generic pitch that's focused almost entirely on THEIR publication, THEIR needs, THEIR demographics, and what a great rate they can give you if you'll just throw some money their way.

I know this was CarolBlaha's point as well, and I just want to underscore how important it is.

Know what your customers/clients read, watch, log on to and listen to. Then approach the advertisers that fit in those categories. Knowing your customers/clients wants and needs will make it an easier sell for them to work with you.